If we charged taxes on revenue, vertical integration would skyrocket. Because the more hands their product goes through, the more tax they need to pay.
We could exempt B2B taxes from the revenue model theoretically though.
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If we charged taxes on revenue, vertical integration would skyrocket. Because the more hands their product goes through, the more tax they need to pay.
We could exempt B2B taxes from the revenue model theoretically though.
April 15th
Corporations should pay more taxes, but since people are talking about how it all works in reality:
Not all corporate expenses are tax deductible, and people are able to deduct a fair amount from their income when calculating their taxes.
Additionally, individuals are taxed on a progressive scale where anything up to ~$15,000 isn't taxed. That number should be much higher to actually reflect cost of living, but you're still paying less to account for cost of living.
With $60,000 in income your taxable income is $44,000 after the standard deduction , and then you only pay taxes on about $30,000 of that because of the bracketing.
Poverty should be tied to livable wage and that bottom tax bracket should be too. So really, for single filer the first ~40k should be tax exempt.
It really sucks when you're self employed. I can almost eliminate my taxes with expenses, except I still pay both the employee and employee tax for social security/payroll taxes which bare almost 15% I can't avoid. Billionaires don't pay that much tax ever. I can't afford to go to the dentist.
The difference is that corporations have an army of tax lawyers that tell them what the tax loopholes are to exploit. Meanwhile, for most ordinary persons, it's just them following orders from the government to pay up. One could read up on the tax rules yourself, but are people willing to spend hours reading boring documents they have no expertise of? I myself wasn't aware of some of the tax benefits I could claim until much later.
Look up direct file
Yeah, we do get tax breaks, should be way more with inflation unfortunately.
If corporations are people (under the law) then the money they make is income and should be taxed appropriately.
But since money is free speech, making corporations pay taxes is compelled speech, which we're protected against by our first amendment rights.
This just in: Saying that is now terrorism as well. Its apparently a form of protest against the government which is now totally illegal.
Bro, I am the biggest psychosexual narcoterrorist in the world. I lead a cult! It's protected by the government, and I get benefits, too!
Corporation: We planned the next 2 years on an ever increasing income stream but the most minor inconvenience disrupted that so we had to lay off 9,000 employees with zero notice so we could meet our bottom line.
Government: That's a shame, here's $500,000,000 to help "mitigate" "economic conditions".
The 9000 laid-off employees: Can he get $200 a week unemployment so we can afford to exist?
Government: You should have planned better.